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Cardano Founder Says No Further Delays Expected in Blockchain Upgrade

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Cardano Founder Says No Further Delays Expected in Blockchain Upgrade
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Charles Hoskinson assured Cardano users yesterday that he does not foresee any further delay in the launch of “Vasil Hard Fork”, but did not give a rollout date.


Key points

  • Cardano blockchain founder Charles Hoskinson took to YouTube on Monday to tell his 315,000 subscribers that he doesn’t anticipate any further delays in rolling out the Vasil upgrade to the network.
  • The Vasil software improvement was originally slated to roll out to the Cardano blockchain in June, and it is expected to improve the blockchain’s scalability, speed, and costs.
  • Last week, Cardano’s development team released their own YouTube update announcing that the project was again a few weeks behind schedule, after stating in mid-July that everything was on track.
  • This morning, Cardano’s ADA coin was down over 2.5%, trading as low as $0.4902 in the past 24 hours according to CoinMarketCap.com.

It seems nowadays that one of the things that changes as much as the price of cryptos is the timing of the promised upgrades of their respective blockchains. The latest elastic report of a cryptonet improvement is courtesy of gimbal founder Charles Hoskinson. Yesterday he told his 315,000 YouTube subscribers that no further delays were expected in the rollout of the Vasil software improvement.

“The good news is that the set of things that could go wrong has gotten so small, and now we’re kind of in the final stages of testing in that regard. So unless something new is discovered, I don’t anticipate we’ll have any further delays,” Hoskinson said in the video recording.

However, it was only last week that the Cardano development team released a separate video stating that Vasil’s rollout would be delayed for a few weeks, and this video contradicted the Cardano team’s social media claims. two weeks ago, which showed that everything was on schedule.

“I mentioned earlier that this is the most complicated Cardano upgrade in its history as it includes both changes to the Plutus programming language as well as changes to the consensus protocol and a litany of ‘other things,’ Hoskinson said. “Things are moving in the right direction steadily and systematically and I just wanted to let you know that all is well in hand, that’s the nature of these types of upgrades.”

At the time of writing, Cardano’s ADA coin was down over 2.5%, trading as low as $0.4902 in the past 24 hours across cryptocurrency exchangesaccording to CoinMarketCap.

Why is the Vasil hard fork so important for Cardano?

It should be emphasized that the Vasil coding patch should improve every element of the Cardano network, including its scalability, efficiency and effectiveness. Cardano already uses a Proof-of-Stake (PoS) consensus method to validate network transactions, using less power resources than the alternative Proof-of-Work (PoW) approach. Other crypto blockchains that rely on PoW consensus include Dogecoin, Ethereum, and Bitcoin. We’ll have to wait and see if Hoskinson’s prediction is correct, or if the project sees another scheduling postponement.

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